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aiPlex Corporation (6225) AI Stock Analysis

TW:6225

aiPlex Corporation

(TWSE:6225)

Select Model
Rating:58Neutral
Price Target:TWD 84.00â–²(6.19% Upside)
Action:initiatedcoverage
Date:11/09/26

aiPlex scores in the middle of the range. The dominant factor is financial performance: a fortress-like, nearly debt-free balance sheet and a first-time swing to positive operating and free cash flow are offset by three years of flat revenue near NT$54 million and continued operating and net losses. Strong technical momentum — with the price well above its 50-, 100- and 200-day moving averages and a positive MACD — supports the score, though the stock has paused just below its 20-day average. Valuation is the main drag, with a negative P/E reflecting unprofitability and no dividend to cushion returns. Investors should look for evidence of sustained revenue growth and a decisive move to consistent profitability before the improvement can be considered durable.

Positive Factors
Revenue GrowthRevenue growth re-accelerating after a flat 2024 indicates improving top-line traction and renewed demand for the company’s offerings. If maintained, this provides a stronger base for operating leverage, reinvestment, and potential earnings recovery over the next several quarters.
Negative Factors
Unstable ProfitabilityThe return to net and operating losses after prior profitability indicates that earnings power remains inconsistent. Continued volatility can limit internally generated capital, make performance less predictable, and reduce the likelihood that revenue growth will translate into durable shareholder returns.

aiPlex Corporation (6225) vs. SPDR S&P 500 ETF (SPY)

-100%0%100%200%300%400%500%600%700%TW:6225+565.94%SPY+14.28%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 2.22B
Dividend Yield
―
Average Volume (3M)
261.63K
Price to Earnings (P/E)
-1143.1
Beta (1Y)
-0.10
Revenue Growth
18.84%
EPS Growth
60.80%
Country
TW
Employees
73
Sector
General
Sector Strength
55
Industry
Consumer Electronics

aiPlex Corporation Business Overview & Revenue Model

Company Description

aiPlex Corporation, alongside its various subsidiaries, specializes in the provision of digital cameras, in-car video recorders, and compact projectors. The company, which was established in 1986, operates globally while maintaining its main offices...

aiPlex Corporation Financial Statement Overview

Summary

A mixed picture. The balance sheet is the standout strength (score 72): equity funds roughly 90% of assets and debt was slashed to about NT$3.2 million from NT$31.2 million, cutting debt-to-equity to about 0.04. Cash flow improved meaningfully (score 56), with operating cash flow turning positive at roughly NT$3.4 million and free cash flow at NT$2.0 million after five years of burn. The income statement remains the weak link (score 40): revenue has stalled near NT$54 million for three consecutive years, and the company is still loss-making at both the operating (-2.1%) and net (-3.3%) lines, with negative return on equity. The doubling of gross margin to about 41% is encouraging, but sustained revenue growth and genuine profitability are still unproven.

Income Statement

40Negative

Balance Sheet

72Positive

Cash Flow

56Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue60.99M54.49M54.26M53.54M34.17M30.93M
Gross Profit27.70M22.21M10.34M9.37M7.05M6.49M
EBITDA999.00K2.70M-1.52M9.22M-3.42M-3.26M
Net Income-2.03M-1.78M-1.89M8.72M-3.94M-3.77M
Balance Sheet
Total Assets158.35M97.86M130.55M105.23M97.41M24.54M
Cash, Cash Equivalents and Short-Term Investments55.27M49.89M81.44M78.17M78.61M4.09M
Total Debt47.43M3.21M31.18M149.00K250.00K510.00K
Total Liabilities73.28M11.30M41.07M9.94M10.84M12.02M
Stockholders Equity85.07M86.56M89.47M95.30M86.58M12.52M
Cash Flow
Free Cash Flow-18.92M1.97M-7.11M-5.72M-3.21M-8.61M
Operating Cash Flow-5.59M3.45M-7.11M-5.72M-3.19M-8.51M
Investing Cash Flow-11.10M-7.32M-3.31M-20.25M-22.00K-100.00K
Financing Cash Flow22.62M-2.03M-314.00K-260.00K77.73M-264.00K

aiPlex Corporation Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:6225 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:4974TW:497464NeutralTWD 4.55B12.88―6.25%-18.51%-25.78%
TW:3356TW:335658NeutralTWD 4.41B4.77―8.95%-1.81%529.31%
TW:6225TW:622558NeutralTWD 4.86B-1143.06――18.84%60.80%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:2365TW:236551NeutralTWD 5.34B46.55―1.27%12.45%59.79%
TW:2417TW:241743NeutralTWD 4.64B23.77―0.76%9.30%―

* General Sector Average

Performance Comparison

0%200%400%600%TW:6225TW:2365TW:2417TW:3356TW:4974TW:6695Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:6225 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:6225aiPlex Corporation79.1067.22565.94%
TW:2365KYE Systems Corp.23.60-10.98-31.75%
TW:2417AVerMedia Technologies, Inc.32.80-3.96-10.76%
TW:3356GeoVision, Inc.65.5015.4730.93%
TW:4974Asia Tech Image Inc.62.40-5.64-8.29%
TW:6695iCatch Technology, Inc.49.903.758.13%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 09, 2026